Newsflash: politicians aren't great at telling the truth. Sadly, neither is USA Today.
As the Heritage Foundation points out, Barack Obama's claim that his tax plan would only hurt 3% of small businesses is "highly deceptive." In fact, 35.7% of small businesses will see a higher tax burden under the Obama plan.
But USA Today is parroting the lie as "fact." Why? Because they're basing their statistics on a study from 2003 (yes, from back when Barack Obama was in the state senate). They reach the number by pretending Obama's plan to allow the Bush tax cuts to expire isn't part of his tax plan.
Now, maybe that's fair. After all, Obama wouldn't be repealing the tax cuts, they'd die on their own. Really, it's the Bush plan. So they're right to say their tax increases will only hit 3 percent of small businesses above the increase when the Bush tax cuts expire.
But the fact is this: compared to their tax burden today if everything Barack Obama wants to get done, gets done (and with what will likely be filibuster-proof majorities it will) 35.7% of small businesses will pay higher taxes than they do today.
When I Say 3% I Really Mean 35.7%
Posted by Dominic Rupprecht - October 21, 2008Thoughts? Add Comment -
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